STR 03: How to Stay Clear of Uncle Sam with Must-Know Tax Court Cases for Short-Term Rentals

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In this episode, Brandon and Thomas explore various tax court cases that involve short-term rental properties and their key take-aways.
Short-term rentals are important because many taxpayers want to offset their W2/active/ordinary/non-passive income with real estate losses. If done properly, short-term rentals can offset directly against this ordinary income without the real estate professional status.
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Опубликовано:

31 май 2021

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Комментарии : 6

@mnie001 2 года назад

Great show. Very knowledgeable

@gregchambers4935 2 года назад

Are there any court cases that support Martial Participation (for STR owners) for those who are personally managing their properties, appropriating logging their hours, and doing daily activates where the tax court approved them to keep their passive deductions they deducted. I know your 3rd in the STR series you report on 5 IRS tax court case where the tax payers deductions were disallowed and the tax payers lost. It sounds as if the general consensus (from your 3 STR podcast series) that your firm believes deducting passive loses for STR owners is possible and the burden of Martial Patriation can legitimately be proven in court. Could you please cite some court cases where the tax payer actually won. That would be awesome!

@anwershaikh886 3 года назад

Hey Guys! Great videos! Can I combine my entire STR portfolio when trying to hit material participation tests similar to LTR or commercial properties? I know STR and LTR can't be combined but wondering if just STR properties can be combined? So for example if I have an STR in my city in which I am doing all the work and have a more expensive STR in a destination location where I have a property management company hired. Can I combine the two and take bonus depreciation?

@TheRealEstateCPA 3 года назад

You may be able to. Look into the 1.469-4 election. You cannot group STRs with LTRs though.

@mannyv.8791 2 года назад

What about STRs that are actively managed and participated in by the Tax Payer vs other STRS which are managed by a separate PM Company. (Sounds like the STR managed separately would be reported separately - so would it be a separate Passive SCHEDULE C?)

@Andrew-hw2wr 2 года назад

Don't subscribe to this guys. There is no way on their website to cancel. They don't respond to any phone call, except the first time to get you in. They cancelled my subscription after I sent them an email letting them know that I have reported them to the authorities.